SYDNEY: Oil Search Ltd has rebuffed an US$8bil takeover proposal from Australia’s biggest energy company Woodside Petroleum Ltd as far too cheap, although it left the door open to higher offers.
Woodside last week sought exclusive talks with the Papua New Guinea-focused oil and gas producer on a one-for-four share offer, conditional on support from key stakeholders, including the PNG government.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!